Insurance specialist firm announces 7% revenue increase as UK revenue tops £100m for the first time

Share with Email

Thank you for sharing!

Kennedys has reported a 7% increase in revenue to £138.8m, up from £129.9m last year.

The firm has also passed the £100m revenue mark in the UK for the first time, rising 2.4% to £102m, up from from £99.6m.

The firm has not yet reported a profit figure for 2015-16. In 2014-15, the firm’s profit per equity partner (PEP) increased to £424,000, up from £418,000 in 2013-14.

The results, which are for the financial year ending 30 April, show that the Asia-Pacific region was the area of strongest growth for the firm, with Hong Kong growing by 33% and the Singapore office growing by 144%, from £3.2m to £7.8m.

The growth in Singapore followed on from Kennedys’ joint law venture with Singapore firm Legal Solutions, which saw Legal Solutions’ seven directors and seven lawyers join Kennedys’ existing five-partner office.

Looking forward, he said: “We are planning for continued growth in the coming year, both domestically and internationally which will, as ever, be centred on where our clients require it and where compelling opportunities present themselves.”

Watson Farley & Williams and RPC, other firms with significant insurance practices, released their 2015-16 results yesterday, with Watson Farley growing by 5% and RPC by 6%.

James Booth

James joined Legal Week in June 2015. He reports on leading UK law firms, as well as covering the African legal market. He previously worked for legal directory Chambers & Partners as a deputy editor.

From Data to Decisions

Exclusive Depth and Reach.

Legal Compass includes access to our exclusive industry reports, combining the unmatched expertise of our analyst team with ALM’s deep bench of proprietary information to provide insights that can’t be found anywhere else.

Big Pictures and Fine Details

Legal Compass delivers you the full scope of information, from the rankings of the Am Law 200 and NLJ 500 to intricate details and comparisons of firms’ financials, staffing, clients, news and events.

[ON-DEMAND] Join Matt Starosciak - attorney, consultant and author of The Lawyer Marketing Book - as he outlines the importance, process, and specific challenges associated with managing a law firm's online reputation.

Legal Week Newsletters & Alerts

Sign Up Today and Never Miss Another Story.

As part of your subscription, you can sign up for an unlimited number of a wide range of complimentary newsletters and alerts. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.